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Income increased by 3.5% in the previous year. During that time total spending on three different goods changed. First good cost 2 PLN and total
Income increased by 3.5% in the previous year. During that time total spending on three different goods changed. First good cost 2 PLN and total spending decreased from 345.000 to 305.000 units. Second good cost 5 PLN and total spending increased from 210.000 to 215.000. Third good cost 10 PLN and total spending increased from 500.000 to 600.000. What can you tell about those goods, provided the price remained unchanged during the previous year (use income elasticity of demand).
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